Regional Price Parities: Services: Other: Metropolitan Portion for Arkansas
ARMPRPPSERVEOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
95.28
Year-over-Year Change
-5.42%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Other: Metropolitan Portion for Arkansas measures differences in purchasing power between Arkansas' metropolitan areas and the national average.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This metric provides insight into the cost of living in Arkansas' urban centers compared to the rest of the country, which is valuable for policymakers, researchers, and individuals evaluating economic conditions and standards of living.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis as part of their Regional Price Parity program.
Historical Context
This metric is used to adjust economic data for regional price differences and inform decisions around government programs, economic development, and household budgeting.
Key Facts
- Arkansas' metropolitan services costs are below the national average.
- Regional Price Parities are published annually by the Bureau of Economic Analysis.
- This metric is used to adjust other economic data for geographic price differences.
FAQs
Q: What does this economic trend measure?
A: This trend measures the difference in purchasing power between Arkansas' metropolitan areas and the national average for services and other non-goods items.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important context for evaluating economic conditions and standards of living in Arkansas relative to the rest of the country.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis as part of their Regional Price Parity program.
Q: How is this trend used in economic policy?
A: This metric is used to adjust other economic data for geographic price differences, informing decisions around government programs, economic development, and household budgeting.
Q: Are there update delays or limitations?
A: The Regional Price Parities are published annually, so there may be a delay between the current period and the most recent data release.
Related Trends
Chain-Type Quantity Index for Real GDP: Computer Systems Design and Related Services (5415) in Arkansas
ARCPUSYSDSGNQGSP
Personal Consumption Expenditures: Nondurable Goods for Arkansas
ARPCENDURG
Administrative and Waste Services Earnings in Arkansas
AREADM
Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Arkansas
ARPCEPCFDSRVACCMD
Chain-Type Quantity Index for Real GDP: Motion Picture and Sound Recording Industries (512) in Arkansas
ARMOTPICSNDQGSP
Chain-Type Quantity Index for Real GDP: Miscellaneous Professional, Scientific, and Technical Services (5412-5414, 5416-5419) in Arkansas
ARMISCPROQGSP
Citation
U.S. Federal Reserve, Regional Price Parities: Services: Other: Metropolitan Portion for Arkansas (ARMPRPPSERVEOTH), retrieved from FRED.